Zenith Electronics Corp. stock took flight last week for the second time this year. While May’s effort turned into a lame duck, the August goose could stay airborne for a longer period.
The impetus last spring was news that Glenview-based Zenith had forged a partnership with Skokie-based U.S. Robotics Corp. to make hybrid cable TV modems to enable people to surf the Internet at higher speeds than can be achieved over the telephone.
Zenith stock shot up 48 percent, to $16.87 a share, Thursday (backing off to $14.87 on Friday) after the company announced a $1 billion deal to make digital TV set-top boxes for Americast, a partnership of phone companies and Walt Disney Co.
The company also said it would build a $100 million picture-tube factory in Woodridge, which is expected to create 280 jobs, and spend $80 million to expand a picture-tube factory in Melrose Park, adding 120 jobs.
